Adient has recorded a fourth-quarter net loss of US$4m, while revenue fell 5% to US$3.9bn compared to 2018.
Full-year 2019 net loss was US$491m.
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“Adient’s self-help initiatives are expected to result in improved earnings and cash flow in FY20, continuing the momentum established in the second half of FY19,” said Adient president and CEO, Doug Del Grosso.
“While the team made solid progress in advancing the turnaround plan in FY19, we recognise and are encouraged by the significant opportunity that lies ahead as we continue to execute the plan.”
After stabilising the business in FY19, Adient said it is transitioning to the “improvement” phase of its turnaround; launch management, operational improvement, cost reduction and commercial discipline are focus areas expected to drive better performance in FY20.
